Now here is the tricky part. She had to take loans out for $10,000 only of a $33,000 a year tuition , room and board school. The rest was all scholarships and grants.
Now obviously the 1098T is incorrect.
My biggest concern is this: One of her scholarships on the Student bill says
1st Gen scholarship- room $1685
The total 1st Gen scholarship was over $11,000 so you can see that a majority of it went towards tuition and fees,
I am just completely lost. If I subtract the $10K in loans and that still leaves $13,000 left that was covered by scholarships in addition to the $10k for room and board.
Is there any way to make the 10K in loans look like it was for room and board? Or do we have to pay tax on the $1685 times 2 semesters?
I hope this makes sense because my brain is spinning!